SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) January 23, 1997
AEI REAL ESTATE FUND XVII LIMITED PARTNERSHIP
(Exact Name of Registrant as Specified in its Charter)
State of Minnesota
(State or other Jurisdiction of Incorporation or
Organization)
0-17467 41-1603719
(Commission File Number) (I.R.S. Employer
Identification No.)
1300 Minnesota World Trade Center, St. Paul, Minnesota 55101
(Address of Principal Executive Offices)
(612) 227-7333
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets.
On January 23, 1997, the Partnership, AEI Real Estate
Fund XVII Limited Partnership, sold its 65.09% interest in a
Sizzler restaurant in Cincinnati, Ohio to James Chantilas,
who is not affiliated with the Partnership. The remaining
interests were sold by AEI Real Estate Fund XVI Limited
Partnership and AEI Real Estate Fund XVIII Limited
Partnership, affiliates of the Partnership. The total cash
sales price was $515,000.
The Partnership received net proceeds of approximately
$315,000 for its interest in the property, which resulted in
a net loss of approximately $504,000.
Item 7. Financial Statements and Exhibits.
(a) A limited number of proforma adjustments are
required to illustrate the effects of the
transaction on the balance sheet and income
statement. The following narrative
description is furnished in lieu of the
proforma statements:
Assuming the Partnership had sold the property
on September 30, 1996, the Partnership's
Investments in Real Estate would have been
reduced by $827,328 and its Current Assets
(cash) would have been increased by
approximately $315,000 and Partner's Capital
would have decreased by $512,328.
The Total Income for the Partnership would
have increased from $2,215,115 to $2,234,015
for the year ended December 31, 1995 and from
$1,354,438 to $1,366,841 for nine months ended
September 30, 1996 if the Partnership
consummated the sale at the beginning of those
periods. The increase is attributable to the
Investment Income the Partnership would have
earned on the sale proceeds of $18,900 and
$12,403 for the year ended December 31, 1995
and the nine months ended September 30, 1996,
respectively.
Depreciation Expense would have decreased by
$33,201 and $24,901 for the year ended
December 31, 1995 and the nine months ended
September 30, 1996, respectively.
Partnership Administration and Property
Management Expense would have decreased by
$12,258 and $31,203 for the year ended
December 31, 1995 and the nine months ended
September 30, 1996, respectively.
The net effect of these pro forma adjustments
would have caused Net Income to increase from
$3,708,662 to $3,773,021 and from $1,107,943
to $1,176,450, which would have resulted in
Net Income of $161.37 and $50.40 per Limited
Partnership Unit outstanding for the year
ended December 31, 1995 and the nine months
ended September 30, 1996, respectively.
(c) Exhibits
Exhibit 10.1 - Purchase Agreement
dated December 19, 1996 between
the Partnership, AEI Real Estate
Fund XVIII Limited Partnership,
AEI Real Estate Fund XVI Limited
Partnership and James Chantilas
relating to the property at 2711
Waterpark Drive, Mason, Ohio.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
AEI REAL ESTATE FUND XVII LIMITED PARTNERSHIP
By: AEI Fund Management XVII, Inc.
Its: Managing General Partner
Date: February 3, 1997 /s/ Mark E. Larson
By: Mark E. Larson
Its Chief Financial Officer
(Principal Accounting and
Financial Officer)